QE can’t make baby boomers spend more

The Fed cannot create inflation as long as the postwar generation is paying off mortgages and emerging markets are struggling under huge external debts, says CLSA’s Russell Napier.

QE can’t make baby boomers spend more

There is a school of thought that reckons demographics have a much bigger influence on markets than most people realise and that looking at the world in this way can lead to some useful insights for investors.

Today, for example, most market participants have all but given up looking at data and are solely focused on the US Federal Reserve, convinced that its monthly asset purchases are the only thing that matters. This is a...

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